Lenovo names new CEO

Amelio will take over from Stephen Ward, who headed IBM's PC division before it was bought out by Lenovo, and who will continue to "assist in the transition and serve as a consultant".

The change is meant to accelerate Lenovo's next phase of growth, the company said, since the integration of IBM's PC division remains on track.

"Bill Amelio's combined experience - in our industry, in emerging and mature markets, in senior operational roles and with IBM - gives him the perfect profile to lead Lenovo from the important stability we have achieved in the first phase of our integration, to the profitable growth and efficiency improvement to which we are committed in our next phase," said Yuanqing Yang, chairman of Lenovo.

Amelio worked at IBM from 1979 to 1997 in a range of positions, including general manager of worldwide operations for IBM's PC division, according to the Lenovo statement.